Crypto Lender Ledn Achieves Remarkable Milestone Surpassing 16B in Loans YeartoDate

Ledn, a crypto lending platform, has achieved a new record by processing $1.6 billion in loans year-to-date. The demand for Ledn’s Bitcoin and Ethereum-backed loans has been driven by market events such as the Bitcoin halving and the rising popularity of Ethereum ETFs in Asia. In the third quarter of 2024 alone, Ledn managed loan transactions amounting to over $506 million. The retail sector saw significant growth, with loans increasing by 225% year-over-year, primarily due to Ledn’s Celsius refinancing program, the introduction of crypto ETFs, and reduced market volatility. Institutional loans accounted for the majority of Ledn’s loan volume, reaching $437.7 million in Q3. Ledn offers various services, including Bitcoin-backed loans, Ether-backed loans, and B2X loans. Additionally, Ledn has implemented a third-party proof-of-reserves standard to enhance transparency in its operations. The increased demand for Ledn’s services can be attributed to recent market events, such as the Bitcoin halving and the rise of Ethereum ETFs in Asia. Investors are increasingly taking advantage of Bitcoin and Ethereum-backed loans to capitalize on new investment opportunities. Ledn’s Chief Investment Officer, John Glover, has also noted a spike in institutional demand since July, possibly driven by expectations around the November elections and a potential surge in Bitcoin prices. Ledn has become a trusted source in the crypto lending industry, with total loan originations exceeding $6.5 billion since its inception in 2018.